A study by economists at the International Monetary Fund compared increases in inflation rates in countries with and without specific inflation targets based on the surge in oil prices in 2007. The results provide
A) no evidence that countries with specific inflation targets were any better off than countries without specific inflation targets.
B) evidence that countries with specific inflation targets actually experienced greater increases in inflation than did countries without specific inflation targets.
C) evidence that countries with specific inflation targets did experience lower increases in inflation than did countries without specific inflation targets.
D) evidence that countries with specific inflation targets experienced no increases in inflation, whereas countries without specific inflation targets experienced significant increases in inflation.
C
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Cited in the text, one obvious example of the effect on power politics that comes from reducing poverty is the increasing influence of
a. Brazil. b. India. c. China. d. Russia.
When a competitive firm maximizes profit, it will hire workers up to the point where the
a. marginal product of labor is equal to the product price. b. marginal product of labor is equal to the wage. c. value of the marginal product of labor is equal to the product price. d. value of the marginal product of labor is equal to the wage.
The unemployment rate equals the number of unemployed divided by the ________, all times 100
A) number of employed B) labor force C) working-age population D) total population
Refer to the diagram and assume that price increases from $2 to $10. The coefficient of the price elasticity of supply (midpoint formula) relating to this price change is about:
A. 5 and supply is elastic.
B. 1 and supply is unit elastic.
C. .25 and supply is inelastic.
D. 2.5 and supply is elastic.